Review and terminationE+W+S

[F18Termination of tariff cap conditionsE+W+S

(1)The Secretary of State may at any time give a notice that tariff cap conditions are to cease to have effect in the case of—

(a)all supply licences,

(b)all supply licences for the supply of gas, or

(c)all supply licences for the supply of electricity.

(2)Where the Secretary of State gives a notice under subsection (1), tariff cap conditions cease to have effect, in the case of licences to which the notice relates, on the date specified in the notice.

(3)In deciding whether to give a notice under subsection (1), the Secretary of State must have regard to the desirability of ensuring that tariff cap conditions continue to have effect—

(a)in the case of supply licences for the supply of electricity, for so long as a scheme is designated for the purposes of section 2 of the Energy Prices Act 2022 (domestic electricity price reduction scheme for Great Britain);

(b)in the case of supply licences for the supply of gas, for so long as a scheme is designated for the purposes of section 3 of the Energy Prices Act 2022 (domestic gas price reduction scheme for Great Britain).

(4)The Secretary of State must publish a notice under subsection (1).

(5)Where tariff cap conditions cease to have effect as provided by this section in the case of all supply licences, the functions of the Authority under section 1 cease to be exercisable.

(6)Where tariff cap conditions cease to have effect as provided by this section in the case of supply licences for the supply of gas, the functions of the Authority under section 1 cease to be exercisable in relation to such licences.

(7)Where tariff cap conditions cease to have effect as provided by this section in the case of supply licences for the supply of electricity, the functions of the Authority under section 1 cease to be exercisable in relation to such licences.]

Textual Amendments